"Sharp Corporation has been holding negotiations with several companies regarding our initiatives for management reconstruction such as fundamental structural reforms of our LCD Panel business", Sharp India said in a BSE filing.

"Sharp will hold negotiations with each of the companies, aiming to select a definitive partner and conclude an agreement. Sharp expects to select a definitive partner in around a month," the statement said.

In December last year, Sharp said its parent firm Sharp Corporation is exploring options, including stake sale in its Indian arm as part of its turnaround strategy.

On December 4, it had said Sharp Corporation, Japan the majority shareholder, "is exploring various options and strategic alternatives, including sale of its shareholding in the company to potential buyers".

Sharp had reportedly registered Yen 50 billion operating loss during the first half of 2015 on account of loss-making LCD business unit.